Former Bank Branch For
For Sale
Contact for pricing
2617 Bragg Blvd, Fayetteville, NC 28303
1,920 SF former bank branch near Fayetteville Tech Community College.
Property Size1,920 SF
Price / SF$312.50
Days on Market1002
Property Features for 2617 Bragg Blvd
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Retail
Zoning
C1
Building Details
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Lee & Associates - Raleigh Durham
Listed By:
James Bailey · License #NC 311081
(336) 602-3022
Source:
Crexi
Added: Dec 7, 2023
Changed: Sep 2
Last Checked: Aug 31 at 12:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Raleigh Durham
Investment Insights
Based on property information with market context.
This is a 1,920 square foot former bank branch. It is located adjacent to Fayetteville Tech Community College, which has 10,932 students. The property is surrounded by national retailers such as McDonald’s, Burger King, Domino’s, Krispy Kreme, and Circle K. A 7-Eleven is under construction nearby. The property is also near Cross Creek Mall, which has over 100 retailers.
Key Highlights
- High‑traffic location adjacent to Fayetteville Tech Community College.
- Surrounded by national retailers including McDonald’s, Burger King, Domino’s, Krispy Kreme, Circle K, and 7‑Eleven (under construction).
- Proximity to Cross Creek Mall, featuring over 100 retailers.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,731
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$554,620
$554.6K
Cap Rate 7%
$396,157
$396.2K
Cap Rate 9%
$308,122
$308.1K
Market Conditions
NOI Build-Up for 1,920 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.2K $20.40/SF
− Vacancy
−$2.2K −$1.14/SF
EGI
$37.0K $19.26/SF
− OpEx
−$9.2K −$4.81/SF
NOI
$27.7K $14.44/SF
Area
Fayetteville, NC
Vacancy
5.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$554,620
Cap Rate 7%
$396,157
Cap Rate 9%
$308,122
Alternative Uses
Best Use
Specialty Retail
$396.2K
$346.6K – $462.2K
NOI $27,731 @ 7.0% cap · market cap 4.62%
Second Best
Retail
$310.0K
$271.3K – $361.7K
NOI $21,700 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$420.8K
$368.2K – $490.9K
NOI $29,454 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 27%
Apparel 1%
Electronics 1%
Dollar Tree
Shops & Services
35,593 visits/mo
0.1 miles
Circle K
Shops & Services
13,642 visits/mo
0.3 miles
Burger King
Dining
9,377 visits/mo
0.2 miles
Bill's Cafe
Dining
7,412 visits/mo
0.3 miles
Domino's Pizza
Dining
2,683 visits/mo
0.3 miles
Demographics for 28303, NC
30,842
Population
15,554
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,003
Density / Sq Mi
$53,261
Median Household Income
$37,238
Median Earnings
$1,125
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - 1,920 SF former bank branch near Fayetteville Tech Community College.
Where is this bank located?
The property is located at 2617 Bragg Blvd Fayetteville, NC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: High‑traffic location adjacent to Fayetteville Tech Community College.; Surrounded by national retailers including McDonald’s, Burger King, Domino’s, Krispy Kreme, Circle K, and 7‑Eleven (under construction).; Proximity to Cross Creek Mall, featuring over 100 retailers.
